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VIJAYA/DENA BANK MERGER WITH BOB-SHARE EXCHANGE RATIOS The Share Exchange Ratio shall be as follows: (a) equity shares of rupees two only each, credited as fully paid up in the BoB for every equity shares of the face value of rupees ten only each held in the Vijaya Bank issued and allotted to the equity shareholders of the Vijaya Bank whose names are recorded in the register of members of the Vijaya Bank as on the date determined by the BoB for I-TAX EXEMPTION STATUS ONLINE CHECK INSTITUTIONS 12A 80G 1023C All of you must have noticed the newly redesigned website of income tax department. One of the features of the website is online search and check of income tax exemption status of various trusts, non-government-profit organizations, charitable institutions under Income Tax Act, 1961. NOTIFICATION NO.3 /2013 “21. Services provided by a goods transport agency, by way of transport in a goods carriage of,- (a) agricultural produce; (b) goods, where gross amount charged for the transportation of NO INTEREST ON INTEREST FOR MORATORIUM PERIOD FROM ANY Therefore, the Hon’ble Supreme Court held that the petitioners shall not be entitled to any reliefs, namely, (i) total waiver of interest during the moratorium period; (ii) to extend the period of moratorium; (iii) to extend the period for invocation of the resolution mechanism, namely 31.12.2020 provided under the 6.8.2020 circular; REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. COMPANIES ACT 2013 TABLE OF FEES TO BE PAID TO REGISTRAR Companies Act 2013: Table of Fees to be paid to the Registrar. (I) In respect of a company having a share capital : 1. (a) For OPC and small companies whose nominal share capital does not exceeds Rs. 10,00,000. (c) For registration of a company whose nominal share capital does not exceeds Rs. 1,00,000. 2. ABCAUS EXCEL PERSONAL AFFAIRS CHECKLIST SECRET DIARY ABCAUS Excel based Personal Affairs Checklist or Diary is a concise digital record and key information with respect to your personal affairs related to Income Tax, Properties, Investments etc. In the event of some unforeseen happening, this checklist can help in recovering all the information documented in it. INCREASE IN EXEMPTION LIMIT U/S 10(23C)(IIIAD) AND (IIIAE Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores. Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses.. Sub-clauses (iiiad) of clause (23C) of the section 10 provides for the exemption for the income received by any person on EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
VIJAYA/DENA BANK MERGER WITH BOB-SHARE EXCHANGE RATIOS The Share Exchange Ratio shall be as follows: (a) equity shares of rupees two only each, credited as fully paid up in the BoB for every equity shares of the face value of rupees ten only each held in the Vijaya Bank issued and allotted to the equity shareholders of the Vijaya Bank whose names are recorded in the register of members of the Vijaya Bank as on the date determined by the BoB for I-TAX EXEMPTION STATUS ONLINE CHECK INSTITUTIONS 12A 80G 1023C All of you must have noticed the newly redesigned website of income tax department. One of the features of the website is online search and check of income tax exemption status of various trusts, non-government-profit organizations, charitable institutions under Income Tax Act, 1961. NOTIFICATION NO.3 /2013 “21. Services provided by a goods transport agency, by way of transport in a goods carriage of,- (a) agricultural produce; (b) goods, where gross amount charged for the transportation of ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
NEW OPTIONAL BASIC INCOME TAX EXEMPTION SLAB/TAX RATES New Optional basic income tax exemption slab and reduced tax rates announced in budget 2020-21 for AY 2021-22 / FY 2020-21. In order to provide significant relief to the individual taxpayers and to simplify the Income-Tax law, the Union Budget proposes to bring a new and simplified personal income tax regime wherein income tax rates will be RFID SEALING EXTENDED TO TRANSPORT OF GOODS FOR WAREHOUSE RFID further sealing extended to transport of goods for deposit in or removal from warehouse w.e.f. 30th June 2020. Note the CBIC , vide Circular No. 20/2020 dated 21.04.2020 has deferred the implementation of the Circular No. 10/2020 till 30.06.20/0. Circular No. 10/2020 – Customs. F.No.484- LC (Vol II) PROCEDURE FOR MANUFACTURING IN BONDED WAREHOUSES The objective of section 65 is to enable manufacture and other operations in customs bonded warehouses. For this purpose, the units should be able to procure required raw materials, consumables, capital goods etc., imported or procured from domestic market. The goods may include dutiable goods, exempt goods or those chargeable to nil rateof duty.
NO PENALTY U/S 271(1)(C) INCOME/ADDITIONS MADE ON This appeal by the assessee is directed against the order passed by the CIT (A), Muzaffarnagar on 18.10.2013 upholding the penalty of Rs.2,63,000/- imposed by the AO u/s 271 (1) (c) of the Income-tax Act, 1961 in relation to the assessment year 2009-10. 2. Briefly stated, the facts of the case are that the assessee is an individual, filed TRANSHIPMENT OF CARGO TO NEPAL-E-CARGO TRACKING SYSTEM 1. Short title and commencement. – (1) These regulations may be called the Transhipment of Cargo to Nepal under Electronic Cargo Tracking System Regulations, 2019. (2) They shall come into force on the day of their publication in the Official Gazette. 2. Definitions. – (1) In these regulations, unless the context otherwiserequires—. (b
ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
UNREALISED INTEREST ON NPA ACCOUNTS NOT TAXABLE ON Unrealised Interest on NPA Accounts not taxable notionally on accrual basis. AO has to follow the RBI Directions under section 45Q of RBI Act as held by Supreme Court The appellant Revenue had filed the instant appeal against the order of the Income Tax Appellate Tribunal (ITAT) in holding that interest accrued on NPA accounts brought to tax on account of notional interest was not justified. E-TUTORIAL ON TDS/TCS RETURN PREPARATION UTILITY (RPU) Confidential. NSDL e-Gov Internal use only . Guidelines for installing NSDL e-Gov (RPU) (cont..) Click to open RPU . Note: 1. RPUAVA is a J based utility, so kindly make sure that latest JAVA version is installed on your respective machines. SUPREME COURT STAYS APPLICABILITY OF ESI TO CONSTRUCTION Supreme Court stays aplicability of ESI to construction site workers. ESIC Circular dated 31/07/2015 along with judgment of Bombay HC stayed NO INTEREST ON INTEREST FOR MORATORIUM PERIOD FROM ANY Therefore, the Hon’ble Supreme Court held that the petitioners shall not be entitled to any reliefs, namely, (i) total waiver of interest during the moratorium period; (ii) to extend the period of moratorium; (iii) to extend the period for invocation of the resolution mechanism, namely 31.12.2020 provided under the 6.8.2020 circular; IOB CONCURRENT AUDIT EMPANELMENT FOR PERIOD 01.07.2021 TO IOB Concurrent Auditor Empanelment for the period 01.07.2020 to 30.06.2021. administrator June 25, 2020 Empanelment No Comments. Indian Overseas Bank Concurrent Audit Empanelment for the period 01.07.2020 to 30.06.2021. Applications to be REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL PERSONAL AFFAIRS CHECKLIST SECRET DIARY ABCAUS Excel based Personal Affairs Checklist or Diary is a concise digital record and key information with respect to your personal affairs related to Income Tax, Properties, Investments etc. In the event of some unforeseen happening, this checklist can help in recovering all the information documented in it. COMPANIES ACT 2013 TABLE OF FEES TO BE PAID TO REGISTRAR Companies Act 2013: Table of Fees to be paid to the Registrar. (I) In respect of a company having a share capital : 1. (a) For OPC and small companies whose nominal share capital does not exceeds Rs. 10,00,000. (c) For registration of a company whose nominal share capital does not exceeds Rs. 1,00,000. 2. VIJAYA/DENA BANK MERGER WITH BOB-SHARE EXCHANGE RATIOS The Share Exchange Ratio shall be as follows: (a) equity shares of rupees two only each, credited as fully paid up in the BoB for every equity shares of the face value of rupees ten only each held in the Vijaya Bank issued and allotted to the equity shareholders of the Vijaya Bank whose names are recorded in the register of members of the Vijaya Bank as on the date determined by the BoB for EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the INCREASE IN EXEMPTION LIMIT U/S 10(23C)(IIIAD) AND (IIIAE Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores. Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses.. Sub-clauses (iiiad) of clause (23C) of the section 10 provides for the exemption for the income received by any person on UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS Notes: 1. “Factory buildings” does not include offices, godowns, staff quarters. 2. Where, during any financial year, any addition has been made to any asset, or where any asset has been sold, discarded, demolished or destroyed, the depreciation on such assets shall be calculated on a pro rata basis from the date of such addition or, as the case may be, up to the date on which such asset I-TAX EXEMPTION STATUS ONLINE CHECK INSTITUTIONS 12A 80G 1023C All of you must have noticed the newly redesigned website of income tax department. One of the features of the website is online search and check of income tax exemption status of various trusts, non-government-profit organizations, charitable institutions under Income Tax Act, 1961. NO INTEREST ON INTEREST FOR MORATORIUM PERIOD FROM ANY Therefore, the Hon’ble Supreme Court held that the petitioners shall not be entitled to any reliefs, namely, (i) total waiver of interest during the moratorium period; (ii) to extend the period of moratorium; (iii) to extend the period for invocation of the resolution mechanism, namely 31.12.2020 provided under the 6.8.2020 circular; IOB CONCURRENT AUDIT EMPANELMENT FOR PERIOD 01.07.2021 TO IOB Concurrent Auditor Empanelment for the period 01.07.2020 to 30.06.2021. administrator June 25, 2020 Empanelment No Comments. Indian Overseas Bank Concurrent Audit Empanelment for the period 01.07.2020 to 30.06.2021. Applications to be REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL PERSONAL AFFAIRS CHECKLIST SECRET DIARY ABCAUS Excel based Personal Affairs Checklist or Diary is a concise digital record and key information with respect to your personal affairs related to Income Tax, Properties, Investments etc. In the event of some unforeseen happening, this checklist can help in recovering all the information documented in it. COMPANIES ACT 2013 TABLE OF FEES TO BE PAID TO REGISTRAR Companies Act 2013: Table of Fees to be paid to the Registrar. (I) In respect of a company having a share capital : 1. (a) For OPC and small companies whose nominal share capital does not exceeds Rs. 10,00,000. (c) For registration of a company whose nominal share capital does not exceeds Rs. 1,00,000. 2. VIJAYA/DENA BANK MERGER WITH BOB-SHARE EXCHANGE RATIOS The Share Exchange Ratio shall be as follows: (a) equity shares of rupees two only each, credited as fully paid up in the BoB for every equity shares of the face value of rupees ten only each held in the Vijaya Bank issued and allotted to the equity shareholders of the Vijaya Bank whose names are recorded in the register of members of the Vijaya Bank as on the date determined by the BoB for EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the INCREASE IN EXEMPTION LIMIT U/S 10(23C)(IIIAD) AND (IIIAE Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores. Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses.. Sub-clauses (iiiad) of clause (23C) of the section 10 provides for the exemption for the income received by any person on UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS Notes: 1. “Factory buildings” does not include offices, godowns, staff quarters. 2. Where, during any financial year, any addition has been made to any asset, or where any asset has been sold, discarded, demolished or destroyed, the depreciation on such assets shall be calculated on a pro rata basis from the date of such addition or, as the case may be, up to the date on which such asset I-TAX EXEMPTION STATUS ONLINE CHECK INSTITUTIONS 12A 80G 1023C All of you must have noticed the newly redesigned website of income tax department. One of the features of the website is online search and check of income tax exemption status of various trusts, non-government-profit organizations, charitable institutions under Income Tax Act, 1961. ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
INCREASE IN EXEMPTION LIMIT U/S 10(23C)(IIIAD) AND (IIIAE Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores. Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses.. Sub-clauses (iiiad) of clause (23C) of the section 10 provides for the exemption for the income received by any person on NEW OPTIONAL BASIC INCOME TAX EXEMPTION SLAB/TAX RATES New Optional basic income tax exemption slab and reduced tax rates announced in budget 2020-21 for AY 2021-22 / FY 2020-21. In order to provide significant relief to the individual taxpayers and to simplify the Income-Tax law, the Union Budget proposes to bring a new and simplified personal income tax regime wherein income tax rates will be significantly reduced for the individual taxpayers RFID SEALING EXTENDED TO TRANSPORT OF GOODS FOR WAREHOUSE RFID further sealing extended to transport of goods for deposit in or removal from warehouse w.e.f. 30th June 2020. Note the CBIC , vide Circular No. 20/2020 dated 21.04.2020 has deferred the implementation of the Circular No. 10/2020 till 30.06.20/0. Circular No. 10/2020 – Customs. F.No.484- LC (Vol II) RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
TRANSHIPMENT OF CARGO TO NEPAL-E-CARGO TRACKING SYSTEM 1. Short title and commencement. – (1) These regulations may be called the Transhipment of Cargo to Nepal under Electronic Cargo Tracking System Regulations, 2019. (2) They shall come into force on the day of their publication in the Official Gazette. 2. Definitions. – (1) In these regulations, unless the context otherwiserequires—. (b
ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
UNREALISED INTEREST ON NPA ACCOUNTS NOT TAXABLE ON Unrealised Interest on NPA Accounts not taxable notionally on accrual basis. AO has to follow the RBI Directions under section 45Q of RBI Act as held by Supreme Court The appellant Revenue had filed the instant appeal against the order of the Income Tax Appellate Tribunal (ITAT) in holding that interest accrued on NPA accounts brought to tax on account of notional interest was not justified. DISALLOWANCE U/S 14A CAN NOT EXCEED EXEMPT INCOME The CIT(A) and both the ITAT granted relief to the assessee. The Tribunal followed an earlier decision of the Delhi Court in wherein it was held that the disallowance under Section 14A should not exceed the exempt income itself.. The Department challenged the decision of the ITAT before the Delhi High Court who in view of law settled on this point of law, dismissed the appeal. SUPREME COURT STAYS APPLICABILITY OF ESI TO CONSTRUCTION Supreme Court stays aplicability of ESI to construction site workers. ESIC Circular dated 31/07/2015 along with judgment of Bombay HC stayed NO INTEREST ON INTEREST FOR MORATORIUM PERIOD FROM ANY Therefore, the Hon’ble Supreme Court held that the petitioners shall not be entitled to any reliefs, namely, (i) total waiver of interest during the moratorium period; (ii) to extend the period of moratorium; (iii) to extend the period for invocation of the resolution mechanism, namely 31.12.2020 provided under the 6.8.2020 circular; IOB CONCURRENT AUDIT EMPANELMENT FOR PERIOD 01.07.2021 TO IOB Concurrent Auditor Empanelment for the period 01.07.2020 to 30.06.2021. administrator June 25, 2020 Empanelment No Comments. Indian Overseas Bank Concurrent Audit Empanelment for the period 01.07.2020 to 30.06.2021. Applications to be REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL PERSONAL AFFAIRS CHECKLIST SECRET DIARY ABCAUS Excel based Personal Affairs Checklist or Diary is a concise digital record and key information with respect to your personal affairs related to Income Tax, Properties, Investments etc. In the event of some unforeseen happening, this checklist can help in recovering all the information documented in it. COMPANIES ACT 2013 TABLE OF FEES TO BE PAID TO REGISTRAR Companies Act 2013: Table of Fees to be paid to the Registrar. (I) In respect of a company having a share capital : 1. (a) For OPC and small companies whose nominal share capital does not exceeds Rs. 10,00,000. (c) For registration of a company whose nominal share capital does not exceeds Rs. 1,00,000. 2. VIJAYA/DENA BANK MERGER WITH BOB-SHARE EXCHANGE RATIOS The Share Exchange Ratio shall be as follows: (a) equity shares of rupees two only each, credited as fully paid up in the BoB for every equity shares of the face value of rupees ten only each held in the Vijaya Bank issued and allotted to the equity shareholders of the Vijaya Bank whose names are recorded in the register of members of the Vijaya Bank as on the date determined by the BoB for EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the INCREASE IN EXEMPTION LIMIT U/S 10(23C)(IIIAD) AND (IIIAE Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores. Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses.. Sub-clauses (iiiad) of clause (23C) of the section 10 provides for the exemption for the income received by any person on UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
I-TAX EXEMPTION STATUS ONLINE CHECK INSTITUTIONS 12A 80G 1023C All of you must have noticed the newly redesigned website of income tax department. One of the features of the website is online search and check of income tax exemption status of various trusts, non-government-profit organizations, charitable institutions under Income Tax Act, 1961. NO INTEREST ON INTEREST FOR MORATORIUM PERIOD FROM ANY Therefore, the Hon’ble Supreme Court held that the petitioners shall not be entitled to any reliefs, namely, (i) total waiver of interest during the moratorium period; (ii) to extend the period of moratorium; (iii) to extend the period for invocation of the resolution mechanism, namely 31.12.2020 provided under the 6.8.2020 circular; IOB CONCURRENT AUDIT EMPANELMENT FOR PERIOD 01.07.2021 TO IOB Concurrent Auditor Empanelment for the period 01.07.2020 to 30.06.2021. administrator June 25, 2020 Empanelment No Comments. Indian Overseas Bank Concurrent Audit Empanelment for the period 01.07.2020 to 30.06.2021. Applications to be REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL PERSONAL AFFAIRS CHECKLIST SECRET DIARY ABCAUS Excel based Personal Affairs Checklist or Diary is a concise digital record and key information with respect to your personal affairs related to Income Tax, Properties, Investments etc. In the event of some unforeseen happening, this checklist can help in recovering all the information documented in it. COMPANIES ACT 2013 TABLE OF FEES TO BE PAID TO REGISTRAR Companies Act 2013: Table of Fees to be paid to the Registrar. (I) In respect of a company having a share capital : 1. (a) For OPC and small companies whose nominal share capital does not exceeds Rs. 10,00,000. (c) For registration of a company whose nominal share capital does not exceeds Rs. 1,00,000. 2. VIJAYA/DENA BANK MERGER WITH BOB-SHARE EXCHANGE RATIOS The Share Exchange Ratio shall be as follows: (a) equity shares of rupees two only each, credited as fully paid up in the BoB for every equity shares of the face value of rupees ten only each held in the Vijaya Bank issued and allotted to the equity shareholders of the Vijaya Bank whose names are recorded in the register of members of the Vijaya Bank as on the date determined by the BoB for EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the INCREASE IN EXEMPTION LIMIT U/S 10(23C)(IIIAD) AND (IIIAE Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores. Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses.. Sub-clauses (iiiad) of clause (23C) of the section 10 provides for the exemption for the income received by any person on UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
I-TAX EXEMPTION STATUS ONLINE CHECK INSTITUTIONS 12A 80G 1023C All of you must have noticed the newly redesigned website of income tax department. One of the features of the website is online search and check of income tax exemption status of various trusts, non-government-profit organizations, charitable institutions under Income Tax Act, 1961. ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
INCREASE IN EXEMPTION LIMIT U/S 10(23C)(IIIAD) AND (IIIAE Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores. Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses.. Sub-clauses (iiiad) of clause (23C) of the section 10 provides for the exemption for the income received by any person on NEW OPTIONAL BASIC INCOME TAX EXEMPTION SLAB/TAX RATES New Optional basic income tax exemption slab and reduced tax rates announced in budget 2020-21 for AY 2021-22 / FY 2020-21. In order to provide significant relief to the individual taxpayers and to simplify the Income-Tax law, the Union Budget proposes to bring a new and simplified personal income tax regime wherein income tax rates will be RFID SEALING EXTENDED TO TRANSPORT OF GOODS FOR WAREHOUSE RFID further sealing extended to transport of goods for deposit in or removal from warehouse w.e.f. 30th June 2020. Note the CBIC , vide Circular No. 20/2020 dated 21.04.2020 has deferred the implementation of the Circular No. 10/2020 till 30.06.20/0. Circular No. 10/2020 – Customs. F.No.484- LC (Vol II) RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
TRANSHIPMENT OF CARGO TO NEPAL-E-CARGO TRACKING SYSTEM 1. Short title and commencement. – (1) These regulations may be called the Transhipment of Cargo to Nepal under Electronic Cargo Tracking System Regulations, 2019. (2) They shall come into force on the day of their publication in the Official Gazette. 2. Definitions. – (1) In these regulations, unless the context otherwiserequires—. (b
ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
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EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the VIJAYA/DENA BANK MERGER WITH BOB-SHARE EXCHANGE RATIOS The Share Exchange Ratio shall be as follows: (a) equity shares of rupees two only each, credited as fully paid up in the BoB for every equity shares of the face value of rupees ten only each held in the Vijaya Bank issued and allotted to the equity shareholders of the Vijaya Bank whose names are recorded in the register of members of the Vijaya Bank as on the date determined by the BoB for INCREASE IN EXEMPTION LIMIT U/S 10(23C)(IIIAD) AND (IIIAE Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores. Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses.. Sub-clauses (iiiad) of clause (23C) of the section 10 provides for the exemption for the income received by any person on RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
I-TAX EXEMPTION STATUS ONLINE CHECK INSTITUTIONS 12A 80G 1023C All of you must have noticed the newly redesigned website of income tax department. One of the features of the website is online search and check of income tax exemption status of various trusts, non-government-profit organizations, charitable institutions under Income Tax Act, 1961. ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL PERSONAL AFFAIRS CHECKLIST SECRET DIARY ABCAUS Excel based Personal Affairs Checklist or Diary is a concise digital record and key information with respect to your personal affairs related to Income Tax, Properties, Investments etc. In the event of some unforeseen happening, this checklist can help in recovering all the information documented in it. COMPANIES ACT 2013 TABLE OF FEES TO BE PAID TO REGISTRAR Companies Act 2013: Table of Fees to be paid to the Registrar. (I) In respect of a company having a share capital : 1. (a) For OPC and small companies whose nominal share capital does not exceeds Rs. 10,00,000. (c) For registration of a company whose nominal share capital does not exceeds Rs. 1,00,000. 2. UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the VIJAYA/DENA BANK MERGER WITH BOB-SHARE EXCHANGE RATIOS The Share Exchange Ratio shall be as follows: (a) equity shares of rupees two only each, credited as fully paid up in the BoB for every equity shares of the face value of rupees ten only each held in the Vijaya Bank issued and allotted to the equity shareholders of the Vijaya Bank whose names are recorded in the register of members of the Vijaya Bank as on the date determined by the BoB for INCREASE IN EXEMPTION LIMIT U/S 10(23C)(IIIAD) AND (IIIAE Increase in exemption limit u/s 10(23C)(iiiad) and (iiiae) of Income tax Act to Rs. 5 crores. Clause (23C) of section 10 of the Act provides for exemption of income received by any person on behalf of different funds or institutions etc. specified in different subclauses.. Sub-clauses (iiiad) of clause (23C) of the section 10 provides for the exemption for the income received by any person on RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
I-TAX EXEMPTION STATUS ONLINE CHECK INSTITUTIONS 12A 80G 1023C All of you must have noticed the newly redesigned website of income tax department. One of the features of the website is online search and check of income tax exemption status of various trusts, non-government-profit organizations, charitable institutions under Income Tax Act, 1961. ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
MANDATORY AUDIT TRAIL IN ACCOUNTING SOFTWARE POSTPONED TO Requirement of mandatory audit trail in accounting software postponed. G.S.R. 248 (E).—In exercise of the powers conferred by sections 139, 143, 147 and 148 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Audit INCOME ESCAPING & SEARCH ASSESSMENTS REVISED TIME FOR Amendments made to provisions of Income escaping assessment and search assessments by Budget 2021-22. Revised time limit for issuing notice. Under the existing provisions, the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may reopen the case and assess or reassess or recompute the total income for REVISED PROCEDURE FOR REGISTRATION OF CHARITABLE TRUSTS U An application under sub- clause (i) or sub-clause (ii) or sub-clause (iii) or sub-clause (iv) or sub-clause (v) or sub-clause (vi) of clause (ac) of sub-section (1) of section 12A for registration of a charitable or religious trust or institution (hereinafter referred to as ‘the applicant’) shall be made in the following Form, namely:-. DEDUCTION U/S 80-IA NOT LIMITED TO HEAD ‘BUSINESS INCOME The Hon’ble Supreme Court held that the scope of sub-section (5) of Section 80-IA of the Act is limited to determination of quantum of deduction under sub-section (1) of Section 80-IA of the Act by treating ‘eligible business’ as the ‘only source of income’ Sub-section (5) cannot be pressed into service for reading a limitation of the deduction under sub-section (1) only to ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
ICAI REVISED FAQ ON PRESENTATION OF DIVIDEND & DIVIDEND If the dividend is recognized in equity, the presentation of DDT should be consistent with the presentation of dividend, i.e., to be recognized in equity. ICAI Intermediate, Final and other CA exams of May 2021 to commence from 05.07.2021. Advocate in NCT Delhi not to be stopped in curfew on producing Bar ID card/ other proof of beingadvocate.
UNREALISED INTEREST ON NPA ACCOUNTS NOT TAXABLE ON Unrealised Interest on NPA Accounts not taxable notionally on accrual basis. AO has to follow the RBI Directions under section 45Q of RBI Act as held by Supreme Court The appellant Revenue had filed the instant appeal against the order of the Income Tax Appellate Tribunal (ITAT) in holding that interest accrued on NPA accounts brought to tax on account of notional interest was not justified. TDS ON TESTING AND COMMISSIONING SERVICES DEDUCTIBLE U/S Bharat Heavy Electricals Ltd 390 ITR 322. The appellant assessee was aggrieved by the order of CITA) in confirming that the TDS at the rate of 10% under section 194J of the income tax act 1961 (the Act) is required to be deducted on the services of testing and commissioning services. The appellant assessee was a company engaged in the business ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
MANDATORY AUDIT TRAIL IN ACCOUNTING SOFTWARE POSTPONED TO Requirement of mandatory audit trail in accounting software postponed. G.S.R. 248 (E).—In exercise of the powers conferred by sections 139, 143, 147 and 148 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Audit INCOME ESCAPING & SEARCH ASSESSMENTS REVISED TIME FOR Amendments made to provisions of Income escaping assessment and search assessments by Budget 2021-22. Revised time limit for issuing notice. Under the existing provisions, the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may reopen the case and assess or reassess or recompute the total income for REVISED PROCEDURE FOR REGISTRATION OF CHARITABLE TRUSTS U An application under sub- clause (i) or sub-clause (ii) or sub-clause (iii) or sub-clause (iv) or sub-clause (v) or sub-clause (vi) of clause (ac) of sub-section (1) of section 12A for registration of a charitable or religious trust or institution (hereinafter referred to as ‘the applicant’) shall be made in the following Form, namely:-. DEDUCTION U/S 80-IA NOT LIMITED TO HEAD ‘BUSINESS INCOME The Hon’ble Supreme Court held that the scope of sub-section (5) of Section 80-IA of the Act is limited to determination of quantum of deduction under sub-section (1) of Section 80-IA of the Act by treating ‘eligible business’ as the ‘only source of income’ Sub-section (5) cannot be pressed into service for reading a limitation of the deduction under sub-section (1) only to ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
ICAI REVISED FAQ ON PRESENTATION OF DIVIDEND & DIVIDEND If the dividend is recognized in equity, the presentation of DDT should be consistent with the presentation of dividend, i.e., to be recognized in equity. ICAI Intermediate, Final and other CA exams of May 2021 to commence from 05.07.2021. Advocate in NCT Delhi not to be stopped in curfew on producing Bar ID card/ other proof of beingadvocate.
UNREALISED INTEREST ON NPA ACCOUNTS NOT TAXABLE ON Unrealised Interest on NPA Accounts not taxable notionally on accrual basis. AO has to follow the RBI Directions under section 45Q of RBI Act as held by Supreme Court The appellant Revenue had filed the instant appeal against the order of the Income Tax Appellate Tribunal (ITAT) in holding that interest accrued on NPA accounts brought to tax on account of notional interest was not justified. TDS ON TESTING AND COMMISSIONING SERVICES DEDUCTIBLE U/S Bharat Heavy Electricals Ltd 390 ITR 322. The appellant assessee was aggrieved by the order of CITA) in confirming that the TDS at the rate of 10% under section 194J of the income tax act 1961 (the Act) is required to be deducted on the services of testing and commissioning services. The appellant assessee was a company engaged in the business ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
MANDATORY AUDIT TRAIL IN ACCOUNTING SOFTWARE POSTPONED TO Requirement of mandatory audit trail in accounting software postponed. G.S.R. 248 (E).—In exercise of the powers conferred by sections 139, 143, 147 and 148 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Audit INCOME ESCAPING & SEARCH ASSESSMENTS REVISED TIME FOR Amendments made to provisions of Income escaping assessment and search assessments by Budget 2021-22. Revised time limit for issuing notice. Under the existing provisions, the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may reopen the case and assess or reassess or recompute the total income for REVISED PROCEDURE FOR REGISTRATION OF CHARITABLE TRUSTS U An application under sub- clause (i) or sub-clause (ii) or sub-clause (iii) or sub-clause (iv) or sub-clause (v) or sub-clause (vi) of clause (ac) of sub-section (1) of section 12A for registration of a charitable or religious trust or institution (hereinafter referred to as ‘the applicant’) shall be made in the following Form, namely:-. DEDUCTION U/S 80-IA NOT LIMITED TO HEAD ‘BUSINESS INCOME The Hon’ble Supreme Court held that the scope of sub-section (5) of Section 80-IA of the Act is limited to determination of quantum of deduction under sub-section (1) of Section 80-IA of the Act by treating ‘eligible business’ as the ‘only source of income’ Sub-section (5) cannot be pressed into service for reading a limitation of the deduction under sub-section (1) only to ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
ICAI REVISED FAQ ON PRESENTATION OF DIVIDEND & DIVIDEND If the dividend is recognized in equity, the presentation of DDT should be consistent with the presentation of dividend, i.e., to be recognized in equity. ICAI Intermediate, Final and other CA exams of May 2021 to commence from 05.07.2021. Advocate in NCT Delhi not to be stopped in curfew on producing Bar ID card/ other proof of beingadvocate.
UNREALISED INTEREST ON NPA ACCOUNTS NOT TAXABLE ON Unrealised Interest on NPA Accounts not taxable notionally on accrual basis. AO has to follow the RBI Directions under section 45Q of RBI Act as held by Supreme Court The appellant Revenue had filed the instant appeal against the order of the Income Tax Appellate Tribunal (ITAT) in holding that interest accrued on NPA accounts brought to tax on account of notional interest was not justified. TDS ON TESTING AND COMMISSIONING SERVICES DEDUCTIBLE U/S Bharat Heavy Electricals Ltd 390 ITR 322. The appellant assessee was aggrieved by the order of CITA) in confirming that the TDS at the rate of 10% under section 194J of the income tax act 1961 (the Act) is required to be deducted on the services of testing and commissioning services. The appellant assessee was a company engaged in the business ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETS 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
EXCEL AGRICULTURAL INCOME-TAX CALCULATOR DOWNLOAD INDIA A for AY 2015-16 r AY 2016-17, as per the method prescribed in Finance Act for calculating income tax shall be as under: (a) Add both net agricultural income and total income (excluding agricultural income). 380000. (b) Calculate income-tax on the aggregate amount arrived at (a) above at the rates prescribed as if such aggregate income were the RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . ABCAUS EXCEL DEPRECIATION CALCULATOR FY 2020-21 COMPANIES The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its predecessor so that users find themselves familiar with it. This calculator is meant for companies following April to March Financialyear.
MANDATORY AUDIT TRAIL IN ACCOUNTING SOFTWARE POSTPONED TO Requirement of mandatory audit trail in accounting software postponed. G.S.R. 248 (E).—In exercise of the powers conferred by sections 139, 143, 147 and 148 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Audit INCOME ESCAPING & SEARCH ASSESSMENTS REVISED TIME FOR Amendments made to provisions of Income escaping assessment and search assessments by Budget 2021-22. Revised time limit for issuing notice. Under the existing provisions, the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may reopen the case and assess or reassess or recompute the total income for REVISED PROCEDURE FOR REGISTRATION OF CHARITABLE TRUSTS U An application under sub- clause (i) or sub-clause (ii) or sub-clause (iii) or sub-clause (iv) or sub-clause (v) or sub-clause (vi) of clause (ac) of sub-section (1) of section 12A for registration of a charitable or religious trust or institution (hereinafter referred to as ‘the applicant’) shall be made in the following Form, namely:-. DEDUCTION U/S 80-IA NOT LIMITED TO HEAD ‘BUSINESS INCOME The Hon’ble Supreme Court held that the scope of sub-section (5) of Section 80-IA of the Act is limited to determination of quantum of deduction under sub-section (1) of Section 80-IA of the Act by treating ‘eligible business’ as the ‘only source of income’ Sub-section (5) cannot be pressed into service for reading a limitation of the deduction under sub-section (1) only to ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
ICAI REVISED FAQ ON PRESENTATION OF DIVIDEND & DIVIDEND If the dividend is recognized in equity, the presentation of DDT should be consistent with the presentation of dividend, i.e., to be recognized in equity. ICAI Intermediate, Final and other CA exams of May 2021 to commence from 05.07.2021. Advocate in NCT Delhi not to be stopped in curfew on producing Bar ID card/ other proof of beingadvocate.
UNREALISED INTEREST ON NPA ACCOUNTS NOT TAXABLE ON Unrealised Interest on NPA Accounts not taxable notionally on accrual basis. AO has to follow the RBI Directions under section 45Q of RBI Act as held by Supreme Court The appellant Revenue had filed the instant appeal against the order of the Income Tax Appellate Tribunal (ITAT) in holding that interest accrued on NPA accounts brought to tax on account of notional interest was not justified. TDS ON TESTING AND COMMISSIONING SERVICES DEDUCTIBLE U/S Bharat Heavy Electricals Ltd 390 ITR 322. The appellant assessee was aggrieved by the order of CITA) in confirming that the TDS at the rate of 10% under section 194J of the income tax act 1961 (the Act) is required to be deducted on the services of testing and commissioning services. The appellant assessee was a company engaged in the business UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETSCOMPANIES ACT 2013 INDIACOMPANIES ACT 2013 PDFESTIMATED USEFUL LIFEUSEFUL LIFE OF ASSETS CHARTUSEFUL LIFE OF ASSETS GAAPUSEFUL LIFE OF ASSETS LIST 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
PROCEDURE FOR MANUFACTURING IN BONDED WAREHOUSES The objective of section 65 is to enable manufacture and other operations in customs bonded warehouses. For this purpose, the units should be able to procure required raw materials, consumables, capital goods etc., imported or procured from domestic market. The goods may include dutiable goods, exempt goods or those chargeable to nil rateof duty.
RBI REVISED GUIDELINES FOR CONCURRENT AUDIT OF BANKS A. Coverage. i. The scope of work to be entrusted to concurrent auditors, coverage of business/branches, etc. is left to the discretion of the head of internal audit of banks, with the due prior approval of the Audit Committee of the Board of Directors (ACB)/Local Management Committee ((LMC) in case of foreign banks) of the bank. ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
CBDT INSTRUCTION 1914-1993 OUTSTANDING TAX DEMAND RECOVERY A. RESPONSIBILITY. (i) It shall be the responsibility of the Assessing Officers and the TRO to collect every demand that has been raised, except the following : (a) Demand which has not fallen due; (b) Demand which has been stayed by a Court or ITAT or Settlement Commission; (c) Demand for which a proper proposal for write off has been I-TAX EXEMPTION STATUS ONLINE CHECK INSTITUTIONS 12A 80G 1023C All of you must have noticed the newly redesigned website of income tax department. One of the features of the website is online search and check of income tax exemption status of various trusts, non-government-profit organizations, charitable institutions under Income Tax Act, 1961.ANNEXURE -A
Annexure -A (Certificate to be used by a Member of Parliament/Member of Legislative Assembly/Municipal Councillor or Gazetted Officer undersub-rule
UNREALISED INTEREST ON NPA ACCOUNTS NOT TAXABLE ON Unrealised Interest on NPA Accounts not taxable notionally on accrual basis. AO has to follow the RBI Directions under section 45Q of RBI Act as held by Supreme Court The appellant Revenue had filed the instant appeal against the order of the Income Tax Appellate Tribunal (ITAT) in holding that interest accrued on NPA accounts brought to tax on account of notional interest was not justified. NOTIFICATION NO.3 /2013 “21. Services provided by a goods transport agency, by way of transport in a goods carriage of,- (a) agricultural produce; (b) goods, where gross amount charged for the transportation of UPDATED SCHEDULE-II COMPANIES ACT 2013 TANGIBLE ASSETSCOMPANIES ACT 2013 INDIACOMPANIES ACT 2013 PDFESTIMATED USEFUL LIFEUSEFUL LIFE OF ASSETS CHARTUSEFUL LIFE OF ASSETS GAAPUSEFUL LIFE OF ASSETS LIST 7. From the date this Schedule comes into effect, the carrying amount of the asset as on that date—. (a) shall be depreciated over the remaining useful life of the asset as per this Schedule; (b) after retaining the residual value, may be recognised in the opening balance of retained earnings where the remaining useful life of an asset isnil.
RBI-OPENING OF INDEPENDENT BANK ACCOUNTS BY MINORS OVER 10 a) A savings /fixed / recurring bank deposit account can be opened by a minor of anyage through his/her natural or legally appointed guardian. b) Minors above the age of 10 years may be allowed to open and operate savings bank accounts independently, if they so desire. Banks may, however, keeping inview their risk management systems, fixlimits
PROCEDURE FOR MANUFACTURING IN BONDED WAREHOUSES The objective of section 65 is to enable manufacture and other operations in customs bonded warehouses. For this purpose, the units should be able to procure required raw materials, consumables, capital goods etc., imported or procured from domestic market. The goods may include dutiable goods, exempt goods or those chargeable to nil rateof duty.
RBI REVISED GUIDELINES FOR CONCURRENT AUDIT OF BANKS A. Coverage. i. The scope of work to be entrusted to concurrent auditors, coverage of business/branches, etc. is left to the discretion of the head of internal audit of banks, with the due prior approval of the Audit Committee of the Board of Directors (ACB)/Local Management Committee ((LMC) in case of foreign banks) of the bank. ABCAUS DESKTOP EXCEL TO DO LIST-TASK PLANNER-REMINDER SOFTWARE The reminder has been set to work on two criterions: 1. To show schedules which are approaching in next three days including current day; and. 2. To repeat the reminder popup every three hour. Note that it uses the date and time of your computer, make sure that they are correct. ABCAUS Excel Task Reminder can start automatically wheneveryou
CBDT INSTRUCTION 1914-1993 OUTSTANDING TAX DEMAND RECOVERY A. RESPONSIBILITY. (i) It shall be the responsibility of the Assessing Officers and the TRO to collect every demand that has been raised, except the following : (a) Demand which has not fallen due; (b) Demand which has been stayed by a Court or ITAT or Settlement Commission; (c) Demand for which a proper proposal for write off has been I-TAX EXEMPTION STATUS ONLINE CHECK INSTITUTIONS 12A 80G 1023C All of you must have noticed the newly redesigned website of income tax department. One of the features of the website is online search and check of income tax exemption status of various trusts, non-government-profit organizations, charitable institutions under Income Tax Act, 1961.ANNEXURE -A
Annexure -A (Certificate to be used by a Member of Parliament/Member of Legislative Assembly/Municipal Councillor or Gazetted Officer undersub-rule
UNREALISED INTEREST ON NPA ACCOUNTS NOT TAXABLE ON Unrealised Interest on NPA Accounts not taxable notionally on accrual basis. AO has to follow the RBI Directions under section 45Q of RBI Act as held by Supreme Court The appellant Revenue had filed the instant appeal against the order of the Income Tax Appellate Tribunal (ITAT) in holding that interest accrued on NPA accounts brought to tax on account of notional interest was not justified. NOTIFICATION NO.3 /2013 “21. Services provided by a goods transport agency, by way of transport in a goods carriage of,- (a) agricultural produce; (b) goods, where gross amount charged for the transportation of ABCAUS-EXCEL FOR CHARTERED ACCOUNTANTS CA ASHUTOSH LOHANI ABCAUS Excel Depreciation Calculator FY 2020-21 under Companies Act 2013 as per Schedule-II Version 05.04 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015. The ABCAUS Depreciation calculator for FY 2020-21 has also been formulated and styled the same way as its . REVISED TIME LIMIT FOR FILLING BILL OF ENTRY Subject: Clarifications on the legislative changes in Section 46 of Customs Act, 1962–reg.. Reference is invited to the amendments in Section 46 of the Customs Act, 1962 introduced through the Finance Act, 2021.These changes facilitate pre-arrival processing and assessment of Bills of Entry (BE) by mandating their advance filing thus leading to significant decrease in the Customs clearance time. EXCEL FORM 10E-SALARY ARREARS RELIEF CALCULATOR AY 2021-22 Excel Form 10E-Salary Arrears Relief calculator AY 2021-22 for claiming rebate under section 89(1) of Income Tax Act 1961-Download. As per section 89(1) of the Income Tax Act, 1961 relief for income tax has been provided when in a financial year an employee receives salary in arrears or advance. As per Rule 21AA of the Income Tax Rules, 1962, Form 10-E has been prescribed for claiming PROCEDURE FOR MANUFACTURING IN BONDED WAREHOUSES The objective of section 65 is to enable manufacture and other operations in customs bonded warehouses. For this purpose, the units should be able to procure required raw materials, consumables, capital goods etc., imported or procured from domestic market. The goods may include dutiable goods, exempt goods or those chargeable to nil rateof duty.
UNREALISED INTEREST ON NPA ACCOUNTS NOT TAXABLE ON Unrealised Interest on NPA Accounts not taxable notionally on accrual basis. AO has to follow the RBI Directions under section 45Q of RBI Act as held by Supreme Court The appellant Revenue had filed the instant appeal against the order of the Income Tax Appellate Tribunal (ITAT) in holding that interest accrued on NPA accounts brought to tax on account of notional interest was not justified. WAGE LIMIT UNDER PAYMENT OF WAGES ACT INCREASED TO RS Wage limit under Payment of Wages Act increased to Rs 24000 per month. The Payment of Wages Act, 1936 (the Act) was enacted with a view to ensuring that wages payable to employed persons covered by the Act were disbursed by the employers within the prescribed time limit and that no deductions other than those authorised by law were made bythem.
REVERSE CHARGE MECHANISM ON RENTING OF MOTOR VEHICLES Subject– Reverse Charge Mechanism (RCM) on renting of motor vehicles -reg. Suppliers of service by way of renting of any motor vehicle designed to carry passengers where the cost of fuel is included in the consideration charged from the service recipient have an option to pay GST either at 5% with limited ITC (of input services in the same line of business) or 12% with full ITC. SERVICE TAX SCN QUASHED AS PRE-SHOW CAUSE NOTICE The Petitioner drew the attention of the Department to the Master Circular dated 10th March, 2017 read with an instruction dated 21st December, 2015 issued by the CBEC in terms of which a pre-show cause notice consultation was mandatory in cases involving demand of duty above Rs. 50 Lakhs. A reminder was again sent by the Petitioner. NEW INITIATIVES TAKEN BY INDIAN GOVERNMENT TO ATTRACT FDI Ministry of Commerce and Industry-Press Release dated 05-08-2015. New Initiatives to Attract Foreign Investment. India has one of the most liberalized FDI policy regimes in the world. Government has put in place an investor-friendly policy on FDI, under which FDI, up to 100%, is permitted, under the automatic route, in most sectors/activities. E-TUTORIAL ON TDS/TCS RETURN PREPARATION UTILITY (RPU) Confidential. NSDL e-Gov Internal use only . Guidelines for installing NSDL e-Gov (RPU) (cont..) Click to open RPU . Note: 1. RPUAVA is a J based utility, so kindly make sure that latest JAVA version is installed on your respective machines.__
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CBDT REBUTS INCORRECT REPORTS ABOUT INCOME TAX NOTICES TO DU... CBDT rebuts incorrect reports about Income Tax notices to Durga Puja Committees in Kolkata Press Release There have been reports inthe …
ALL PENDING INC-12 SRNS FOR NEW SECTION 8 COMPANY INCORPORAT... All pending INC-12 SRNs for new section 8 Company incorporation at RoCs to be Rejected on 15th August 2019 due to Simplification … SCHEME FOR ONE-TIME PARTIAL CREDIT GUARANTEE TO PSBS FOR PUR... Government issues Scheme to provide a one-time partial credit guarantee to PSBs for purchase of pooled assets of financially soundNBFCs The …
CBDT REBUTS INCORRECT REPORTS ABOUT INCOME TAX NOTICES TO DU... CBDT rebuts incorrect reports about Income Tax notices to Durga Puja Committees in Kolkata Press Release There have been reports inthe …
ALL PENDING INC-12 SRNS FOR NEW SECTION 8 COMPANY INCORPORAT... All pending INC-12 SRNs for new section 8 Company incorporation at RoCs to be Rejected on 15th August 2019 due to Simplification … SCHEME FOR ONE-TIME PARTIAL CREDIT GUARANTEE TO PSBS FOR PUR... Government issues Scheme to provide a one-time partial credit guarantee to PSBs for purchase of pooled assets of financially soundNBFCs The …
CBDT REBUTS INCORRECT REPORTS ABOUT INCOME TAX NOTICES TO DU... CBDT rebuts incorrect reports about Income Tax notices to Durga Puja Committees in Kolkata Press Release There have been reports inthe …
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